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Sale Pending - HUD home on Norvell St.

$65,000 Great value!

Photo of 25887 Norvell Street, Chesterfield, MI, 48051.

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Address: 25887 Norvell Street	City/ST: Chesterfield, MI	Zip Code: 48051
Location: Chesterfield	Property Type: Single Family Home	New or Resale: Resale
Square Footage: 1284	Bedrooms: 3	Bathrooms: 1
MLS# 30729040

HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks*. FHA Case #261-882000. Insured. Bids due by 02-15-10 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof. AKA Chesterfield Township.

Last Updated: 3/14/2010 11:00:57 AM

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First Time Buyers >The Down Payment

Perhaps no single decision in a real estate purchase has more variables than "How much money do I put down?" Conventional wisdom centers around either putting down as much as you can or as little as the lender allows.

If you put down a large payment, you get some leverage with the lender, such as little or no mortgage insurance, a good equity position, and perhaps a preferred mortgage deal. You will also have lower mortgage payments. One potential disadvantage of a large down payment is that you will be using after-tax dollars on which you could be earning interest. You will also have less tax-deductible interest.

When you buy a home with a low down payment, you will have more tax deductible interest, and your investment value percentage will increase faster. You will have little equity at the outset, and your monthly mortgage payments (and perhaps your interest) will be higher. However, you will also keep more of your own money in hand to potentially earn more interest in other investments.

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Q	What is the most expensive piece of property ever recorded?
A	In October 1988, the Mediya Building in central Tokyo was quoted at 358.5 million yen ($248,000) per square foot.
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Holly Peters, REALTOR�, real estate agent and broker for Harrison Township, St. Clair and Macomb, Michigan home listings, property and land for sale - NUMBER1EXPERT

Holly Peters
RE/MAX Advisors
34350 23 Mile Rd.
Chesterfield, MI 48047
Holly's Cell : 810-300-4015
Office: 586-725-1900
Fax: 586-725-0333
REOactionhomes@gmail.com
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